Chipmakers Nvidia, AMD, Intel Climb Following Strong Quarterly Tech Reports

Oct 24 - Intel INTC led a rally in chip names after its third-quarter results and guidance came in ahead of expectations.

Analysts said demand in servers and an early PC-refresh cycle helped the beat. Jefferies' Blayne Curtis said results and guidance looked a bit stronger after adjusting for moving parts, while Morgan Stanley's Joseph Moore urged caution, suggesting some upside reflected conservative assumptions. Bank of America's Vivek Arya flagged the foundry business as a potential weak spot.

Investors pushed several chipmakers higher: Intel INTC, Taiwan Semiconductor Manufacturing TSM and Marvell Technology MRVL each rose about 2%. Advanced Micro Devices AMD surged about 6%, while Nvidia NVDA gained about 1%. IBM IBM jumped about 4%.

Some analog and legacy names were softer, Analog Devices (ADI), Texas Instruments TXN and STMicroelectronics (STM) each slipped about 1%. Broadcom AVGO climbed about 3%, while Qualcomm (QCOM) was largely flat.

Chip-equipment makers saw gains, with Lam Research LRCX up about 3% and KLA (KLAC) up about 2%; ASML (ASML) and Applied Materials (AMAT) were slightly higher.

The moves suggest investors are rewarding better-than-expected guidance but remain selective, balancing renewed demand hopes against persistent execution risks.